KKR and Velero’s €1.05 Billion Acquisition of Residential Portfolio from Adler Group

White & Case has advised Adler Group S.A. on the deal.

Adler Group S.A. executed the sale of 14,400 residential and commercial units, predominantly located in medium-sized cities in eastern Germany, to international investment company KKR and German real estate specialist Velero. 

The agreed purchase price represents a valuation of the portfolio of approximately €1.05 billion. The Adler Group will reduce its loan-to-value ratio to below 50 percent after completion of the transaction.

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. 

Velero Immobilien is a provider of property management services in the residential real estate market in Germany.

The Adler Group is on its way to become the 4th largest listed residential real estate company in Europe.

The White & Case team which advised on the transaction was led by partners Andreas Lischka (Picture) and Rostyslav Telyatnykov (both Frankfurt) and included partners Gernot Wagner, Roger Kiem, Sebastian Pitz, Bodo Bender, Tim Bracksiek (all Frankfurt) and Tilman Kuhn (Düsseldorf, Brussels), local partners Patricia Galts, Sebastian Stütze (both Frankfurt) and Mathis Rust (Düsseldorf) and associates Nane Jütting, Markus Stelzig, Sandra D‘Ascenzo, Patrick Schoelles, Agmal Bahrami, Markus Fischer and Gürkan Akbaba (all Frankfurt).

Involved fees earner: Guerkan Akbaba – White & Case; Agmal Bahrami – White & Case; Bodo Bender – White & Case; Tim Bracksiek – White & Case; Sandra D’Ascenzo – White & Case; Markus Fischer – White & Case; Patricia Galts – White & Case; Nane Jütting – White & Case; Roger Kiem – White & Case; Tilman Kuhn – White & Case; Andreas Lischka – White & Case; Sebastian Pitz – White & Case; Mathis Rust – White & Case; Patrick Schölles – White & Case; Markus Stelzig – White & Case; Sebastian Stütze – White & Case; Rostyslav Telyatnykov – White & Case; Gernot Wagner – White & Case;

Law Firms: White & Case;

Clients: Adler Group;